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“UNIVERSIDAD NACIONAL DE SAN AGUSTÍN”

FACULTAD DE ECONOMIA

ESCUELA PROFESIONAL DE ECONOMIA

CURSO:

Economía Bancaria 

DOCENTE: Dr E!i"#$r%o V$"ar!$ B$!r$&a"

ALUMNO:

F"or$' Ca(a)*acc)a+ G*'%a,o A!o"-o

ARE.UIPA / PER01234

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INDICE

INTRODUCCION

3 ASPECTOS GENERALES

FORWARD

DESCRIPCION GENERAL DEL MERCADO

1 OB5ETIVOS

OBJETIVO GENERAL

OBJETIVO ESPECIFICO

6 MARCO TEORICO

7 TIPOS DE RIESGOS EN EL MERCADO DE FOR8ARD

5. PRINCIPALES ENCARGADOS DE SU E9PEDICION AD.UISICION

; PERSONAS O INSTITUCIONES ENCARGADAS DE SU E9PEDICION

< CASOS REALES SOBRE CONTRATOS FOR8ARD

LOS FORWARD DE PENTA, UN MAL USO EN CHILE

LA DIFICIL TAREA DE VENDER ROPA

A INCREMENTAR LA COSECHA

MANUFACTURA CASO EPECIAL

POR COMENZAR LOS FORWARDS EN LAS BOLSAS DE COMMODITIES DE INDIA

CASO DE UN FORWARD POR ENTREGA FÍSICA (DELIVERY FORWARD) Y POR

COMPENSACIÓN (NON DELIVERY) 

EJEMPLOS SOBRE COMMODITIES

COMMODITIES EN EL PERU, CASO ESPECIAL

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= CONCLUSION FINAL SOBRE EL TRABA5O

INTRODUCCI>N

El p!"!#$! $%&%' !" !%l*%+ # l% -#%l+%+ +! +% % #! ./! !0"$!# 1/2" +!3%+"

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3? ASPECTOS GENERALES

FOR8ARD

T71# #8l7" # !l ./! "! +!"8#% !l #$%$ +! 1p%3!#$% +! /# %$3, 3%l  +3"% !# !l ./! "!

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!# l% ./! "! 2%: l% !#$!8%  +!l %$39 A +-!!#%  +! l" -/$/",   # "! 1%$!%l*%# !# $5$/l"

#1%l*%+", # !0"$! /# 1!%+ !8/l%+9

I#"$/1!#$ +! &!$/% "&! $p" +! #$!7" % 1!+ pl%*9 C#""$! !# /# 1p1" +! 1p%

3!#+!, !# /#% -!2% -/$/% p!-'%+%, /#% %#$+%+ p!!"$%&l!+% +! /# %$3, % /# p! %+%+

/%#+ "! !%l*; !l 1p1"9

DESCRIPCI>N GENERAL DEL MERCADO

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"#?

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● E@or%a!or$' !$ #i$n$' '$r,icio':  E# !l /" #1%l +! "/" p!%#!" !%l*%#

$%#"%#!" ./! "! p%$%# p +!$!1#%+% %#$+%+ +! /#% +3"% ( +! 3%%") % !& !#

/#% -!2% -/$/%, p !#3% 1!%#5%" p!"$% "!3" % $ p%5"9

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P%$/l%!", !$9)? @/! p l% #%$/%l!*% +! "/" %$3+%+!" !"$:# !0p/!"$" % l% 3%%;# !# l%"

$%"%" +! %1& !# l%" $%"%" +! #$!7"

1? OB5ETIVOS

OB5ETIVO GENERAL

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El &'!$3 8!#!%l !" +% % #! l% 1p$%#% +! l" ->%+ #3!l #%#%l ! #$!#%#%l !# !l

1%#!' +! !"8" !1p!"%%l!"9

OB5ETIVOS ESPECÍFICOS

● D!$!1#% l" $p" +! 1!%+" 1 !l ->%+9

● D!$!1#% l" !"8" +! 1!%+" 1 !l ->%+.

6? MARCO TE>RICO

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• Po'icin Lar&a com@ra!or: A/!+% 1p% !l %$3 "/&4%!#$! !# /#% -!2% -/$/%

!"$%&l!+% % /# p! %+%+ +! %#$!1%#9

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!&: !l 1p$! 5#$!8 %+%+9

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l% +-!!#% !#$! !l p! +! 1!%+ !# l% -!2% +! 3!#1!#$ 4 !l p! p!3%1!#$!

%+%+9

E"$" #$%$" "# p!%#!" !0$%&/":$l!", p./! "# $%#"%+%" -/!% +! &l"%, !# 1!%+"

#+" 1 OTC (O3! $2! C/#$!) 4 8!#!%l1!#$! "# p!%#!" #$!&%#%%" !#$! /#

&%# 4 "/ l!#$!, +! !"$% 1%#!% /#% p%$! %"/1! l% p";# l%8% 4 l% $% l% p";# $%9

7? TIPOS DE RIESGOS EN EL MERCADO DE FOR8ARD

• Lo' -orar!' @*$!$n *%i"iar'$ @ara "a $"iminacin !$ ri$'&o co#$r%*ra:/%#+ /# !1p!"% ./! $!#! /#% p";# +! !"8 !# !l 1!%+, # /# #$%$ ->%+

1p!#"%: !"% p";# # /#% p";# #$%%9

• D$ E'@$c*"acin $@$c%a%i,a' !$ *na *%i"i!a!: C/%#+ "! $!#! l% !0p!$%$3% ./!

2%&: /#% 3%%;# +! /# %$3 "! !% /#% p";# l%8% $% p%% &$!#! /#% /$l+%+

!"p!%+%9

El p#p%l p&l!1% ./! p!"!#$% /# ->%+ !" !l !"8 +! ./! /#% +! l%" p%$!" (l% ./! $!#8%

p7++%) # /1pl% # "/ &l8%;# !# !l 11!#$ +!l 3!#1!#$9 E"$% !" l% %*;# +! ./! l"

->%+ ";l "! +!&!# !"$%&l!! !#$! !1p!"%" 4 !#$+%+!" -#%#!%" +! !#+% "l3!#% 4 ./!

"!%# #$!8%" !# !l p%8 +!l #$%$ %+%+9

4? PRINCIPALES ENCARGADOS DE SU E9PEDICI>N AD.UISICI>N

L%" $%#"%#!" +! FORWARD "! !%l*%# #1%l1!#$! p $!l7-# p #$!#!$ 4 "! !% !l %$

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+! #, -!2% +! 3!#1!#$, -!2%" +! $%;#, l!4 %pl%&l! 4 +/1!#$%;#9

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;? PERSONAS O INSTITUCIONES ENCARGADAS DE SU E9PEDICION

C!+!" 1!1&" +! l%" :1%%" +! 1p!#"%;# +! l%" &l"%" +! -/$/" 4 p#!" +!l !0$!,

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<? CASOS REALES SOBRE CONTRATOS FOR8ARD

L O S F O R 8 A R D S D E P E N T A + U N M A L U S O E N C J I L E

E"$/3! 2%" $%$%#+ +! +!$!1#% 1 /#% !1p!"% p+5% !l/+ !l p%8 +! 1p/!"$" % p%$ +!

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%l "! #$%&l*%+%" 1 8%"$, +"1#/5% l%" /$l+%+!" +! P!#$%, l% !#$% &%"! 1p#&l!, 4 p !#+!

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R!p6&l% S!&%"$:# P!%9

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CONCLUSION:

S&! !"$! %$/l +!1"$%1" 1 !" p"&l! l% -%l"-%;# +! /# ->%+ ./! !# l! p!"!#$!

$%&%' 2!1" !1!#+%+ "/ /$l*%;#, p! !# 2l! "/!+; $+ l #$%, p/!" /$l*%# +!1%l% -1% !"$" #$%$" p%% p%8% 1!#" 1p/!"$" 4 +! !"$% -1% 1%#$!#! "/"/ /$l+%+!" !#

l%" 1"1%" #+#!"= 24 !# +5% "! !"p!% ./! !"$! %" "! !"l%!*% p !l &!# +!l 8&!#

2l!# 4 %+!1:" "! /# !'!1pl %./5 !# P!6 p%% ./! # "/!+%# !"$%" "%"9

LA DIFÍCIL TAREA DE VENDER ROPA

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"l!"9

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+! l" "$" $$%l!"9

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4 !l +! "/" "$" p!%$3" -'"9 S# +/+%, /# 5#+! &%"$%#$! %l$ ./! p/!+! ll!3% % l% 1pp/l%

#l/";# +! ./! 8!#!% !1pl! !# !"$! #$!0$ !"$% 1p!$$3+%+9

S !"$! !" !l !"!#%, ;1 "# !#$%&l!" P%% !1p!*%, %1&" !'!/$3" %l%%# ./! # !" $%!%

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E#$! !ll" !"$: #!1!#$% l% p+/$3+%+ +! l% !1p!"% 4, !# !l l%+ -#%#!, /"% l" #"$/1!#$"

./! !0"$!# !# !l 1!%+ &%#%, 1 !l ->%+, p%% #"!3% "/" 1:8!#!" +! 8%#%#% "#"%-% p/!"$" +! $%&%'9

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El ->%+ p!1$! %l !0p$%+, +/%#$! /# p!5+ $, 3!#+! "/" +;l%!" !# /#% -!2% -/$/% 4 % /#

p! !"$%&l!+ #+!p!#+!#$!1!#$! +! l ./! "/!+% !# !l 1!%+9

P! !"$ $%1&7# $!#! /# "$ ./! +!&! "! 1!++ p l% !1p!"%, p./! !# %l8/#" %"" 1pl%

!l !"8 +! ./! !l $p +! %1& !# l/8% +! &%'% "/&% p !#1% +!l 1#$ %+%+9 T!#!1" ./!

2%! /# 1%#!' p-!"#%l +! !"8", !0pl% H!!%, +! C!+$!09

G8 B!#%"#, 3!p!"+!#$! +! M!%+ +! C%p$%l!" +! I#$!&%#, #+! # H!!% 4 +!

./! !"$" #"$/1!#$" "!:# !-!#$!" " !" ./! "! 2%! /# %#:l"" !$ "&! ./7 p%$! +! l"

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9 A"5 p !'!1pl, !l "$ +! p!%#!" +! ->%+" !; !# <,Q !l % p%"%+9

CONCLUSION

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+! %-#$% !"$" !"8" +! /#% 1%#!% #$!l8!#$!, 4 # "1pl!1!#$! %!p$%#+ l #!3$%&l!9

A INCREMENTAR LA COSECJAJ"7 L/" N!8%, +!$ +! E1p!"%" N&!0 8/p +!+%+ % l% p+/;#, !#3%"%+ 4

1!%l*%;# +! %!$/#%" !# !l 1!%+ l%l 4 !0$%#'!, !0pl% ./! !l  "!$ %85l% $%1&7#

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l% A"%;# +! G!1" P+/$!" A8%" +!l P!6 (AGAP) !l p!#$%'! +! $%&%'%+!" %8%"

./! !&! /# "/!l+ 1!#"/%l "/p! % l% !1/#!%;# 15#1% "/&; +! !# !l %l !# !l

, 1 +! l" #"/1" 4 !l p!" +! p+/;# !# "5 1"19

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S!86# N!8%, 2%! 2 %" /#% '%3% +! %!$/#%" (< 8) !"$%&% % S9, l ./! +%&% 1 !"/l$%+

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1:" %-!$%+" p l% %p!%;# +!l "l9

MANUFACTURA: CASO ESPECIAL

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"+ %-!$%+%9

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E# $%#$, M%#/!l G%ll-7, 8!!#$! 8!#!%l +! P+/$" +! A! C%""%+, +!+%+% % l% p+/;# 4

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"!% !# !l 1!%+ l%l !# !l !0$%#'!, -%$/% !# +;l%!", %-1% !l !1p!"%9

POR COMENKAR LOS FOR8ARDS EN LAS BOLSAS DE COMMODITIES

DE INDIA 

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/#% -!2% !"p!5-% # /#% -!2% p!+!$!1#%+% +! !#$!8%, #!$%+% !#$! l%" p%$!"9 L%

C1";# +! l" M!%+" F>%+" (FMC, p "/" "8l%" !# #8l!"), ./! !8/l%: +2%" p!%#!",

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CASO DE UN FOR8ARD POR ENTREGA FÍSICA DELIVER FOR8ARD POR COMPENSACI>N NON DELIVER

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D!l3!4 F>%+ (DF) 4 l% "!8/#+% ll%1%+% N# D!l3!4 F>%+ (NDF)

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l% -l/$/%;# +!l $p +! %1& p!'/+./! "/" !"/l$%+" -#%#!"9

E5EMPLO SOBRE COMMODITIES

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+! 1l 1ll#!" +! +;l%!"= p "%&+ !" ./! # ";l !"#+; p7++%" +! p4!$" 4 p!%#!"

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1%#p/l%+", 1 !# $" +!3%+"9

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"%- +! l% #3!";# p6&l% 4 l% 2p!#-l%;#)9

CONCLUSION

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+!3%+" +!"l8%+" +! #$%$" -5"" !" %+% 3!* 1:" /!"$#%+%9

COMMODITIES EN EL PERU+ CASO ESPECIAL

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p%5"9

=? CONCLUSION FINAL SOBRE EL TRABA5O

El P!6 2% !#$%+ !# /#% !$%p% +!"%-%#$! !# "/ +!"%ll, 2%&!#+ !+/+ "/ $%"% +! !1!#$

p1!+ +! l" 6l$1" %", %-!$%+ p /#% 4/#$/% !0$!#% #!$% 4 1pl!'%, 4 #

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p !#-!#$% p%% !+/ #/!"$% +!p!#+!#% +! -%$!" !0$!#"9 T%1&7# "/8! l% p"&l+%+ +!

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+! l" p#p%l!" "" 1!%l!" +!l P!6 4 p#p%l #"/1+ 1/#+%l +! 11+$!"9 E"$, ./!

2% $!#+ /# 1p%$ #!8%$3 !# #/!"$% &%l%#*% 1!%l 4 -!$% +! +3"%", $%1&7# 2% %"#%+

l% %" p%%l*%;# +! l% !0pl%;# p%% +!"%ll% #/!3" p4!$" 1#!" l%l!"9

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1%4 p+! +! #!8%;# #$!#%#%l 4 8!#!% /#% 1%4 #$!8%;# 1!%l # l" p%5"!"1!1&", 4 +!"%ll%5% p+/$" 4 "!3" # %l$ #3!l 1p!$$3 p%% +3!"-%#" +!

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